Crédit Lyonnais faces trouble with unions

By

William Wright

June 4, 2001 5:00 pm GMT

Joel Jeuvell, head of the capital markets division at Crédit Lyonnais in London, is at the centre of a row with the powerful French trade unions.

The unions are up in arms because two senior staff in the capital markets business at Crédit Lyonnais received a combined bonus of FFr112m (€17.1m), not far short of the FFr120m bonus pool for the rest of the markets business at Crédit Lyonnais in Paris. The rest of the bank's 28,600 staff received a pay rise of 0.5% and an average bonus of FFr6,000, say the French unions.